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The head of digital asset research at investment firm VanEck, Matthew Sigel, stated in an interview with CNBC that bitcoin miners have discovered a “gold mine” — the energy supply for data centers catering to artificial intelligence.
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Shares of companies engaged in bitcoin mining that have also entered the AI market have become some of the most appealing for investment funds, according to the analyst.
“They are aggressively diversifying their capabilities to serve the artificial intelligence market, having found a gold mine, and are already posing significant competition to other data center operators,” Sigel explained.
Miners were the first to recognize the potential of their infrastructure amid the rapid increase in demand from AI operators. Previously established sites for mining the first cryptocurrency have proven to be well-suited for housing high-performance computing systems, a representative from VanEck noted.
As an example of this transformation, he cited the company Core Scientific. In early March, the miner announced plans to sell off a significant portion of its bitcoin reserves by the end of March. The funds raised are intended to be directed towards expanding infrastructure for artificial intelligence needs. The firm secured approximately $500 million from Morgan Stanley for the development of these capabilities.
Sigel suggested that such a transformation could significantly alter the landscape for mining companies. According to his forecast, in the coming years, some of the largest players in the industry will gradually evolve from cryptocurrency miners into versatile data center operators, catering to both blockchain networks and AI computational tasks.
Previously, specialists from the mining pool Neopool released a report indicating that by 2030, five major miners will control a significant portion of the Bitcoin network’s power, with access to inexpensive electricity being the key factor for survival.
